Contactless spending limit increased in response to coronavirus March 24, 2020 The spending limit for contactless card payments will be increased next month in response to the coronavirus outbreak. Shoppers will be able to spend £45 using contactless payments, up from £30, from 1 April. The measure was already being considered by the industry but its introduction has been brought forward due to the coronavirus pandemic [...]
Consumer spending surges as lockdown restrictions end July 14, 2020 Brits rushed back to the shops in June after lockdown restrictions ended, prompting the biggest jump in sales since May 2018 as consumers indulged in some much-needed retail therapy. According to new data from the British Retail Consortium, total sales rose 3.4 per cent in June in the first month of growth since lockdown measures [...]
Morrisons takeover could trigger breakup, analysts warn July 31, 2021 Analysts have warned that British supermarket chain Morrisons could be broken up if it is taken over by buyout firms. Analysts at Bernstein said they “struggle to see” how Morrisons’ assets would not be stripped if the takeover proceeds at the current or a higher offer price. Read more: Morrisons: Singapore’s wealth fund GIC joins [...]
The week ahead, 11-15 January: FTSE housebuilders, Asos, Tesco and UK GDP January 10, 2021 London’s markets started the new year in a frenzy last week, picking up over five per cent and closing the gap on their counterparts around the world. This week is set to be a busy one for the FTSE, with a raft of companies due to provide updates, as well as key economic data in [...]
Shoppers begin ‘cautious’ return to stores as lockdown measures eased May 18, 2020 Footfall at the UK’s retail destinations increased by a modest 3.3 per cent in the first week since lockdown measures were lifted, as Brits began taking tentative steps out of their homes. According to retail intelligence analysts Springboard, last week’s increase was the fourth in six weeks, although it was considerably smaller than that recorded [...]
City urges government to hand coronavirus loans to firms hit by EU state aid rules June 1, 2020 UK business groups have urged the government to find a way around EU state aid rules that have stopped British businesses from receiving coronavirus loans. The CBI, British Retail Consortium and UK Hospitality have written to economic secretary John Glen urging him to extend the coronavirus loans scheme to firms that have failed to secure [...]
High street suffers biggest ever decline in footfall as Brits obey lockdown May 11, 2020 The UK high street suffered its greatest ever decline in footfall last month as Brits steered clear of shops during the coronavirus lockdown. Retailers were hit with an “unprecedented” 80 per cent plunge in footfall in April, with high streets and shopping centres the worst affected. Retail parks were the most resilient thanks to the [...]
New York-based Apollo Global Management mulls buyout of Marks & Spencer November 22, 2021 Private equity giant Apollo Global Management is reportedly mulling a buyout of UK high street staple Marks & Spencer.
Major Tory donor, head of Garden Bridge and Brexit advisers receive top gongs in Queen’s Birthday Honours list October 9, 2020 One of the largest Conservative party donors, the head of the failed £40m Garden Bridge and 10 Brexit advisers were among the senior figures to receive awards in this year’s Queen’s Birthday Honours list. Tony Gallagher, who has donated almost £4m to the Conservative party over the last 13 years, was awarded a knighthood for [...]
Retail footfall jumps as UK coronavirus cases rise March 16, 2020 Retail footfall spiked at the end of last month as consumers rushed to the shops to stock up due to the spread of coronavirus in the UK. Retail footfall in February was down two per cent year on year due to several storms during the month. However, the final week of the month saw a [...]